Note: You must be registered in order to post a reply. To register, click here. Registration is FREE!
T O P I C R E V I E W
dandl
Posted - 29 July 2008 : 23:36:01 i have a life insurance policy to leave to my family does this get taken away from me
1 L A T E S T R E P L I E S (Newest First)
Suzanne
Posted - 30 July 2008 : 08:59:47 Hi dandl and welcom to the forum
The OR treat life insurance policies as assets in the bankruptcy. You can either allow it to lapse and take out another post bankruptcy, or buy it back of the OR for around 12months worth of payments.
If you do neither of these and just carry on paying the OR would have a claim on the policy in years to come on your demise.
